Novogratz Says Galaxy Is Moving More Crypto Operations Offshore

Michael Novogratz, the founder of crypto financial services firm Galaxy Digital Holdings Ltd., said his company is moving more operations offshore in part due to the regulatory environment in the US.

“This is a global business and our intention is to continue to grow outside of the US, at a much quicker pace than we were growing in the United States,” Novogratz said Tuesday on a first-quarter earnings conference call for New York-based Galaxy.

Novogratz said he doesn’t expect any major crypto legislation to pass in the US soon, and regulators including the US Securities and Exchange ...